Currency Future and Options Contracts (involving Indian Rupee) on Exchanges in International Financial Services Centres (IFSC)

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....ntres Dear Sir/Madam, Sub: Currency Future and Options Contracts (involving Indian Rupee) on Exchanges in International Financial Services Centres (IFSC) 1. Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015 were notified on March 27, 2015, which came into force on April 01, 2015 wherein currency derivatives were specified as permissible sec....

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....change, shall be as follows: a) Trading Members (positions on proprietary basis as well as clients' position) - Gross open position across all contracts not to exceed 15% of the total open interest or USD 1 billion equivalent, whichever is higher b) Institutional Investors - Gross open position across all contracts not to exceed 15% of the total open interest or USD 1 billion equ....

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.... • Foreign Banks setup in other offshore jurisdictions • Supranational, Multilateral or Statutory Organization / Institution/Agency The aforementioned explanation shall also be applicable for SEBI circular (SEBI/HO/MRD/DRMNP/CIR/P/2017/43) dated May 17, 2017 in connection with Position limits for cross-currency futures and options contracts (not involving Indian Rupee) on....